CPI: Consumer Price Index
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consumer price indexPhys Org
•Business
Business & Economics
Q&A: What is the consumer price index? An economist explains

89% Informative
The U.S. Bureau of Labor Statistics released the latest inflation report on March 12 .
The CPI reflects the cost of a representative market basket of goods and services purchased by urban consumers.
Kenneth Louie , associate professor of economics at Penn State Behrend , explains what the CPI is and why American consumers should pay attention.
Changes in the CPI can affect the economic well-being of individuals in other ways.
The CPI is used to adjust income eligibility levels for government assistance, federal tax brackets, federally mandated cost of living increases, private sector wage and salary increases, and consumer and commercial rent escalations.
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